Bitcoin Price Watch; Breakout and Intrarange on Monday

Here's what we're focusing on for the Thursday afternoon session out of Europe in the bitcoin price. In this morning’s bitcoin price watch article, we highlighted the range we were focusing on for the early European session. It was a pretty tight range, so we said we’d be looking at trading breakout only, as opposed to breakout and intrarange. This is because its difficult apply effective risk management parameters on intrarange trades when support and resistance are so narrow. As it turned out, we might have been better off giving it ago. Shortly before the European afternoon kicked off,....

Here's what we are looking at in the bitcoin price this evening, breakout and intrarange. It’s been a pretty slow day in the bitcoin price space, and this has weighed on our ability to get into the markets. We had a pretty volatile end to last week, and some decent action over the weekend allowed us to draw some profit from a few positions, but the current action looks to be representative of the start of the week slumps we’ve seen across the last couple of months – range bound, no real breakouts, and when we do see a breakout, it doesn’t result in any sort of sustained momentum we can....

This morning we published the first of our twice daily bitcoin price watch pieces, and noted that - as a result of the relatively tight range we were looking at - we would steer clear of our intrarange strategy in favour of our standard breakout approach. We also suggested, however, that a more aggressive trader might want to look at incorporating intrarange action into their approach if we saw a correction from resistance, or a bounce from support. Action has now matured throughout the European session, and as it turned out, the more aggressive approach looks to have been the one to take.....

Here's what we are going for in the bitcoin price this Monday morning. It’s Monday morning, and time to take a look at the bitcoin price for the first time this week. Action was nice and volatile last week, and price gave us plenty of opportunities to get in and out of the markets according to the rules of our standard intraday strategy – in long on a break of resistance and in short on a close below support, with a take profit set somewhere in the region of a two to one risk reward profile. Our intrarange strategy has been put to one side as of late, primarily because the ranges with....

Here's what we are looking at for today's bitcoin price intraday strategy. Breakout and intrarange included. To say action overnight had been erratic would be an understatement. The chart we are using for today’s analysis doesn’t represent the erraticism perfectly, as it’s a contracted version, but the up and down volatility across the board in the bitcoin price was there nonetheless. We didn’t see too much sustained directional movement. But within a pretty tight range the bitcoin price jumped around, never really offering us any real entries (even on the tightened scalp platform we....